Fifth Third Bancorp Sells 285 Shares of Extra Space Storage Inc. (NYSE:EXR)

Fifth Third Bancorp lessened its stake in shares of Extra Space Storage Inc. (NYSE:EXR) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,438 shares of the real estate investment trust’s stock after selling 285 shares during the period. Fifth Third Bancorp’s holdings in Extra Space Storage were worth $1,412,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Graypoint LLC raised its position in shares of Extra Space Storage by 4.3% during the 3rd quarter. Graypoint LLC now owns 1,575 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 65 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Extra Space Storage by 1.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 5,138 shares of the real estate investment trust’s stock valued at $769,000 after purchasing an additional 68 shares during the period. Hummer Financial Advisory Services Inc lifted its stake in shares of Extra Space Storage by 1.2% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 5,920 shares of the real estate investment trust’s stock valued at $1,067,000 after purchasing an additional 70 shares during the last quarter. Buckley Wealth Management LLC boosted its holdings in shares of Extra Space Storage by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,811 shares of the real estate investment trust’s stock worth $687,000 after purchasing an additional 71 shares during the period. Finally, Bleakley Financial Group LLC increased its position in shares of Extra Space Storage by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on EXR shares. Barclays lowered their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Evercore ISI dropped their price target on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $175.00 price target on shares of Extra Space Storage in a report on Monday, October 21st. Truist Financial raised their price objective on shares of Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $171.25.

Extra Space Storage Price Performance

Shares of EXR stock opened at $155.02 on Wednesday. Extra Space Storage Inc. has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $155.79 and a two-hundred day simple moving average of $164.86. The stock has a market capitalization of $32.86 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 7.48 and a beta of 0.91.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.12). Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $824.80 million for the quarter, compared to the consensus estimate of $826.93 million. During the same quarter in the previous year, the company earned $2.02 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, December 16th. Extra Space Storage’s payout ratio is 169.63%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $164.56, for a total transaction of $507,009.36. Following the sale, the director now directly owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

About Extra Space Storage

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.